All Forum Posts by: Sandy Blanton

Bill Gulley Does anyone know if a private individual who funds mortgages is required to provide a TIL? If so, and they failed to do so, what are the penalties? Thanks.

Huge Benefit. All of our investments we found through the MLS. Just do it.

Interesting. I'm surprised to hear this is common. I must admit I've never sent out such letters but we've sent out tens of thousands of pieces of junk mail for our brokerage. We have had a few nut cases give us grief for getting our junk mail. I always ask them if they're calling every company that hits their mailbox. *sigh

Mortgage pros, is the seasoning requirement six or twelve months? If the borrower is seeking to recoup purchase plus rehab funds does that change anything?

Scenario: strong borrower. He made a purchase of $125K last April (10 months ago). The house still needs $100K in rehab work. We had a loan set to launch with Wells Fargo with their in-house/non-FHA rehab product. Then bam, the rep tells us "oops, we have to have one year of seasoning." The borrower is upset/doesn't want to delay the work and moving into his house for another two months. He wants to explore going with an FHA rehab in hopes he can do so w/o waiting another two months.

Any input? He's in Florida. Thx.

Oh Hades No. The Sheriff can't tell you what to mail or not unless you're sending illegal porn, drugs, other contraband. If it's not illegal, mail yourself sick. Strange story.

Great question. Years ago I had a client with a similar issue (much smaller numbers). I can't remember why but in the end his CPA explained he couldn't do a 1031. If I had a choice, I would do the 1031 and defer the gain.

Tony Levins Good old Flomation! I have lots of relatives up there. Pcola here. Damn.

As the owner of a sizable property management operation, we charge 1 month's rent for this service. People doing it for half of that are really cutting themselves. If you're happy with the results of the 1/2 price folks, keep them around. If you have a bad experience, switch to a full fee professional organization.

Unfortunately for the public, the "cheapest" property manager is almost always the "most costly." IMO:)

I don't have the service, but I LOVE IT. And I plan to sign up very SOON. I read that 70% of DS contracts are signed by the customer and returned within 48 hours (no mention of the non DS avg). Plus...and this is huge...companies that use DS contracts get 30% more of their proposals/contracts signed. I believe it as it's so easy, fast.

It's legal in all 50 states too. I don't think there's any more chance of forgery than if you get a hand signature...IMO:)

Erik Kubec Finding a CPA is easy. You're in a major metro area, there are probably thousands of them looking for new clients. The worst time of the year to find one is Feb through April.

Got to cpa dot com or whotnot or ask a friend for a referral. IMO:)